Bridgeport Corp. deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records: April 30 Bank Reconciliation Balance per bank $7,420 Add: Deposits in transit 1,630 Deduct: Outstanding cheques (2,900) Balance per books $6,150 Month of May Results Per Bank Per Books Balance on May 31 $8,480 $8,660 May deposits 4,690 5,700 May cheques 4,330 3,190 May note collected (not included in May deposits) 1,040 May bank service charge 20 May NSF cheque from a customer, returned by the bank (recorded by the bank as a charge) 320 (a) Determine the amount of deposits in transit and outstanding cheques at May 31. Keep in mind the time lag between deposits and cheques being recorded in the books and when they are recorded by the bank. Deposits in transit, May 31 $enter a dollar amount Outstanding cheques, May 31 $enter a dollar amount (b) Prepare a May 31 bank reconciliation showing balance per bank statement and balance per books and correct cash balance. (List items that increase balance as per bank & books first.) Bridgeport Corp. Bank Reconciliation May 31 select an opening name for section one $enter a dollar amount select between addition and deduction : select a reconciling item enter a dollar amount select between addition and deduction : select a reconciling item enter a dollar amount select a closing name for section one $enter a subtotal of three previous amounts select an opening name for section two $enter a dollar amount select between addition and deduction : select a reconciling item enter a dollar amount select between addition and deduction : select a reconciling item $enter a dollar amount select a reconciling item enter a dollar amount enter a sumbtotal of two previous amounts select a closing name for section two $enter a total dollar amount